Trading software

Friday, April 18, 2014

Laying horses in the place markets & automated trading on Betfair

I don't agree with having racing on Good Friday so no bets for me today.

I spent most of today working on tomorrow's Irish Independent article but I also spent some time reviewing some systems and strategies. I'm delighted with how well my place lays are going and 2014 is continuing to be as good as 2013:

I'm probably coming across as a little boastful here which is not my intention - I'm simply very happy to be making some money in the palce markets as it's an area which took a long time for me to crack.

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I've also been working on an automatic trading strategy. I set the software to place bets under certain conditions and then I leave it run for the day. I'm always wary about this type of thing and making money while you do other things seems to good to be true. But so far, it's worked OK with just two losses from around 40 trades. I've tweaked it slightly in the past while to keep the losses to a minimum and I hope that will improve things a little.

The profit using €20 stakes is around €6 which isn't too bad although as you can see from the graph, a single loss can knock you back quite a bit as I'm greening up the profitable trades but not the losing ones:

It needs work but I enjoy working on it and am quitely confident I can improve it. If so, I'll increase the stakes. If any other readers are trying out automatic trading, I'd welcome your thoughts.

About Me

WAYNE Bailey was born in Dublin where he still lives with daughter. A librarian by profession, Wayne has always had a passion for betting and trading and has spent various periods throughout his life as a professional gambler. In 2007, he graduated from University College Dublin with a degree in social science and information studies and four years later, he completed a diploma in financial trading from the Irish Institute of Financial Trading. More recently, he studied psychology and the behaviour of the human mind. Wayne is a regular contributor to various newspapers and websites in the UK and Ireland, and he currently pens the Betting Ring column which enjoys a large dedicated following every Saturday in Ireland’s largest selling newspaper The Irish Independent. Wayne's book 'Sports Trading on Betfair' was published in 2014. Email: waynebaileyracing@gmail.com